Waivers 50%. Hybrids 30%.

[NC Appraising]

Per the owner of a mortgage company. I asked him to give me a rough estimate of the amount of waivers and hybrids at my appointment today.

For the mini refi boom we had, he said 50% waiver, 30% hybrids.

Those numbers are for his firm and market....may not represent all markets.

He actually said that waivers, in his opinion we're crazy. He has been in the business for 30 years. I said yeah, it's the big lenders that are pushing them. He agreed.

As for AMCs, he said that the AMCs are screwing the borrowers.

He pondered why the AMCs can charge $800 for a given price range for a home and then $1,000 for a higher price range for a home, but then be able to pocket the difference if they could find an appraiser willing to do it at the lower price?

I said they are thieves. They need to give the overages back to the borrower.

I said dunno, needs to be a class action lawsuit....borrowers suing lenders and AMCs.

 

[Surf Cat]

The demise of the appraisal profession is happening at a breakneck pace.

"Something" has got to give. That something is going to break this thing wide open. The truth will come out one way or another.

 

[djd09]

why stop at 50%...waive them all except for marin city and east cleveland

 

[Surf Cat]

waive them all

That appears to be the plan. At least not have any licensed appraisers involved. Make the whole valuation thing like doordash.

Why the 3.6 though? Why develop that aggravating of a process?

 

[djd09]

Why the 3.6 though? Why develop that aggravating of a process?

what do you mean...buy the book take the class snake oil salesmen

 

[Fritz in NY]

It's always been corrupt. I was a "loan originator" for a national co. back in 1986. We got to pick which appraiser would be assigned. That was it, no quality control or oversite. Most of the employees were aluminum siding and car sales trained.

 

[Surf Cat]

what do you mean...buy the book take the class snake oil salesmen

Whose going to buy the book and take the class if there's no work? Parea grads?

 

[djd09]

Whose going to buy the book and take the class if there's no work? Parea grads?

AI Launches First Two Companion Courses​

CHICAGO, IL, UNITED STATES, August 14, 2025 /EINPresswire.com/ -- The Appraisal Institute, the nation’s largest professional association of real estate appraisers, today announced the launch of the first two courses in its new five-part companion course series designed to help appraisers successfully transition to the upcoming Uniform Appraisal Dataset (UAD) 3.6 and updated Uniform Residential Appraisal Report (URAR) process.

Debuting this week in Las Vegas, the new courses - Reporting Market Analysis and Better Understanding the New URAR and Supporting Adjustments and Reporting the Sales Comparison Approach in the New URAR - build on AI’s education offerings to provide appraisers with practical guidance, tools, and reporting strategies to meet the new GSE-driven requirements scheduled for full implementation in 2026.

“These courses are a critical first step in providing appraisers with the knowledge and skills they need to succeed in the new reporting environment,” said Paula K. Konikoff, JD, MAI, AI-GRS, president of the Appraisal Institute. “Our goal is to help appraisers prepare early, so they can navigate these changes with confidence and credibility.”

The five-part companion course series will be rolled out through 2025, with each course addressing a critical component of the new appraisal process. The Appraisal Institute will offer the courses both in-person through its chapter network and via synchronous virtual delivery, making them accessible to residential appraisers nationwide.

all roads lead to chicago, california, or 15th st...

 

[NC Appraising]

I have to say that I believe the numbers.

Every refi that I have done is either complex, CU believes the value is wack, or doesn't meet other waiver requirements l...no other appraisal, no refi in recent period etc.

To top it off, the broker is the seller and his home is a overimprovement. The highest sale in the pud is 920k. His home is under contract for 1.2 mill. Ltv is 70%.



He said waivers is the craziest shet that he has ever seen in his 30 years of being in the biz. I said it's the xxxx of the large mortgage bankers.

 

[Fernando]

Did you find out if there are patterns in which properties get waived or hybrid?
Cookie cutters?
Low loan to value loans?
High income borrowers?